Reflect receipt of the donations and net assets

Reference no: EM131765026

Question: A nongovernmental not-for-profit organization provided the following data in regard to $500,000 of donations received during the year, purchase of investments to be held perpetuily at the donor's request $100,000

FUTURE REPAIRS TO THE ORGANIZAITION'S BUILDING AND EQUIPPMENT AT THE DONOR'S REQUEST 250,000

General operation at the discretion of the board of directors 100,000

Specific program services as indicated by the donor 50,000

In order to properly reflect receipt of the donations, net assets should increase in the amount of

a. $ 400,000 unrestricted and $ 100,000 permanently restricted

b. $ 150,000 unrestricted, $ 250,000 temporarily restricted and $ 100,000 permanently restricted

c. $100,000 unrestricted, $ 300,000 temporarily restricted, and $ 100,000 permanently restricted

d. $ 100,000 unrestricted and $ 400,000 permanently restricted

Reference no: EM131765026

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